Home Equity Line of ChoiceSM

HSBC’s Home Equity Line of ChoiceSM lets you turn your home’s equity into a source of funds for home improvements, debt consolidation or other major expenses. Borrow at competitively low APRs3 and enjoy lower monthly payments compared to other higher-interest lending options.
  • Credit line amounts available to meet your needs.  Up to $1 million credit lines for Premier customers and up to $350,000 for Advance and Personal Banking customers.
  • Only pay interest on the amount you borrow.
  • No application costs, annual fees or closings costs3 for lines up to $500,000.
  • Flexibility to set up all or a portion of your outstanding balance as fixed rate loan.
  • Interest charges may be tax deductible4
  • Qualify for a Home Equity Line of ChoiceSM even if your mortgage is with another lender.

Initial Draw Discount1
 

Make an initial draw of $25,000 or more at closing to receive a 0.25% rate discount.
 

HSBC Relationship Rate Discounts1

 

0.50%

rate discount for auto payment from a Premier checking account.

 

0.25%

rate discount for auto payment from an Advance or Personal Banking checking account.

Home Equity Fixed Rate Segments

HSBC provides customers the flexibility to lock in up to three fixed rate loan segments within a home equity line of credit. At any time, you can enjoy the security of a fixed interest rate and monthly payment5

  • Protection from possible rising interest rates  
  • Fix an interest rate on all or a portion of the outstanding home equity balance
  • Available minimum term of 5 years with a maximum term of 20 years

 

Calculated monthly payments are principal and interest with repayment over the fixed rate term. 

Home Equity Line of Choice – Monthly Rates

As of {{currentDate}}
 

HSBC offers two monthly payment options.

Principal and Interest

State*
 HSBC Advance and Personal Banking HSBC Premier2APR1**
NY 5.750%
 5.250%
CA 5.300%
 4.800%
WA 5.800%
 5.300%
All Other States 6.000%
 5.500%

Principal and Interest

State*
 NY
HSBC Advance and Personal Banking 5.750%
HSBC Premier2 APR1**
5.250%
State*
 CA
HSBC Advance and Personal Banking 5.300%
HSBC Premier2 APR1**
4.800%
State*
 WA
HSBC Advance and Personal Banking 5.800%
HSBC Premier2 APR1**
5.300%
State*
 All Other States
HSBC Advance and Personal Banking 6.000%
HSBC Premier2 APR1**
5.500%

Note: Assumes excellent credit, Owner Occupied, Single Family Home, 2nd Lien HELOC

Interest only

State* HSBC Advance and Personal Banking HSBC Premier2APR1**
NY
 6.000%
 5.500%
CA
 5.550%
 5.050%
WA
 6.050%
 5.550%
All Other States
 6.250%
 5.750%

Interest only

State* NY
HSBC Advance and Personal Banking 6.000%
HSBC Premier2 APR1**
5.500%
State* CA
HSBC Advance and Personal Banking 5.550%
HSBC Premier2 APR1**
5.050%
State* WA
HSBC Advance and Personal Banking 6.050%
HSBC Premier2 APR1**
5.550%
State* All Other States
HSBC Advance and Personal Banking 6.250%
HSBC Premier2 APR1**
5.750%

Note: Assumes excellent credit, Owner Occupied, Single Family Home, 2nd Lien HELOC

Apply today

Get started online

Your personal mortgage consultant will contact you.

Find a local mortgage consultant

Speak with a mortgage consultant face to face in your area.

Over the phone

Call 844.HSBC.MTG (844.472.2684) and apply over the phone.

Home equity checklist

The information you need to apply

  • Social Security Number or Tax Identification Number
  • Date of birth
  • Current address including length at residence
  • Current email address
  • Monthly mortgage/rent payment amount
  • Annual income and employment information
  • Other income sources for yourself and co-applicant (if applicable)
  • Property information, including purchase date and price, estimated value, mortgage holder, outstanding balance, monthly payment, taxes, insurance and all names on the deed.

Documents you may need

 

During the process, you may be asked to provide copies of the following, if applicable:

  • Your most recent paystub and a W-2 form
  • Two years of Federal Tax returns (1040s), if self-employed
  • Your mortgage statement and mortgage note if you have a first mortgage and it's with a lender other than HSBC
  • Most recent property taxes if not escrowed
  • Most recent home insurance binder

If your property is a Cooperative (Co-op), you will be asked to furnish copies of your:

  • Complete signed proprietary lease
  • Stock certificates

 

1 Discounts and loan amounts depend on specific program and may require certain personal deposit and investment balances, reserves, equity and automatic payment from an HSBC U.S. checking account. For home equity, the Premier and non-Premier APR include an auto-pay discount of .50% and .25%, respectively.

2 To be eligible for an HSBC Premier home equity line of credit, you must be a Premier relationship customer with a U.S. Premier checking account. To learn more about the Premier relationship requirements contact an HSBC branch or call toll free at 866.801.6756.

3 The Annual Percentage Rate (APR) for a Home Equity Line of ChoiceSM is variable and is based on the U.S. Prime Rate published each day in The Wall Street Journal (but not the Weekend Edition of The Wall Street Journal) (the "Index") plus a margin. If The Wall Street Journal publishes more than one U.S. Prime Rate for a day, the Index will be the average of those rates. The index as of the last change date of December 20, 2018 is 5.50%. The maximum APR is the greater of 15.9% or 5% above the initial APR. The APR will not increase or decrease by more than 4% in each year. Rates apply to lines secured by your primary residence (excluding co-ops and 3-4 family property) with a total loan-to-value (“TLTV”) ratio of 60% or less, line size $100,000 to $249,900. Higher rates may apply for different TLTV's, property and product types. Please contact us for current rates on lines with different terms. The APR does not include closing costs. For line amounts of $500,000 or less, HSBC will pay all closing costs. For line amounts greater than $500,000, you will be required to pay 50% of title insurance costs and any mortgage tax-like fees; however, HSBC will pay all other closing costs. Generally, closing costs are estimated to range from $270 to $19,900, but may be higher depending on the location of your home and the amount of your line of credit. If you terminate your account within the first three years, you will have to pay an early termination fee of $500 (or $750 for properties located in California and Virginia), plus any mortgage tax-like fees paid by HSBC at the time your account was established. No annual or application fees will be assessed. Your Home Equity account will be secured by a mortgage on your home. All persons on the deed must sign the mortgage. Property insurance is required and flood insurance may be required.

4 Consult your tax advisor for details on tax deductibility of interest paid on loans secured by your home.

5 The fixed rate loan option provides the ability to fix the interest rate on all or a portion of the outstanding balance during the draw period. Up to three balances can be fixed at one time. Additional conditions apply.

* In AZ, minimum line amount is $10,001; Line amounts greater than $500,000 available. Please contact us for more information.

** This APR includes an auto-pay discount of 0.25% for HSBC non-Premier customers and 0.50% discount for HSBC Premier customers. To qualify for discounted rates on a Home Equity Line of ChoiceSM, payment must be made via automatic payment from a U.S. Premier or U.S. Advance checking account which must be opened and fully funded prior to closing. Discounts can be cancelled or are subject to change at any time and cannot be combined with any other offer or discount.

‡ Click here for information regarding Interest Only home equity lines and other non-traditional mortgage features.

Rates shown are for new Home Equity Line of ChoiceSM accounts only and may change daily without notice.

Mortgage and home equity products are offered in the U.S. by HSBC Bank USA, N.A. and are only available for property located in the U.S. Subject to credit approval. Borrowers must meet program qualifications. Programs are subject to change. Geographic and other restrictions may apply. Discounts can be cancelled or are subject to change at any time and cannot be combined with any other offer or discount.

Deposit products offered through HSBC Bank USA, N.A. - Member FDIC.